Apr 05 2007
During the past 10 years, Barnes & Noble misdated and improperly backdated stock options to the tune of $45.5 million, a special committee formed by the company to investigate the issue has found. B&N will make changes on its balance sheet to reflect that amount; B&N.com, for a time an independent company but again a subsidiary of B&N, will take a gross charge of $10 million. The company issued a summary of the special committee's findings yesterday. The committee emphasized that it "did not find any intent to defraud or fraudulent misconduct by any individual or group of individuals" and that the dating and pricing practices were applied "uniformly" to the more than 3,300 board members, senior management and employees who received stock grants during the decade. B&N is one of more than 100 companies whose stock option practices have interested the Securities and Exchange Commission in the past year and led to at least 10 criminal prosecutions.
Become a Member
and discover your next great read!
Win the book & DVD
Enter to win The World of Poldark and the full first series on DVD.
Solve this clue:
and be entered to win..
Visitors can view some of BookBrowse for free. Full access is for members only.
Your guide toexceptional books
BookBrowse seeks out and recommends books that we believe to be best in class. Books that will whisk you to faraway places and times, that will expand your mind and challenge you -- the kinds of books you just can't wait to tell your friends about.